General view of our Trading plan on XAUUSD
Gold is one of my favorite assets to develop swing setups due to its consistent technical behavior. Today I will explain my general view about this setup:
The key idea here is that I want to see one more bearish wave before developing setups. Why? Because based on past scenarios (3 situations), the sequence I observed before beginning a new impulse is always a double bottom.
What is a double bottom? It's a situation where a price re-tests a previous support level without making a new low. That's a strong signal of accumulation happening. Here you will see an example.
So I like executing setups on Gold after seeing that; it works as a solid guarantee every time I'm risking money. So at the moment, I will keep waiting for a situation like this before taking action.
Remember: Patience can be your edge in the markets!
The key idea here is that I want to see one more bearish wave before developing setups. Why? Because based on past scenarios (3 situations), the sequence I observed before beginning a new impulse is always a double bottom.
What is a double bottom? It's a situation where a price re-tests a previous support level without making a new low. That's a strong signal of accumulation happening. Here you will see an example.
So I like executing setups on Gold after seeing that; it works as a solid guarantee every time I'm risking money. So at the moment, I will keep waiting for a situation like this before taking action.
Remember: Patience can be your edge in the markets!
